FxWirePro: South Korean won depreciates on the back of lower than expected consumer sentiment index
USD/KRW is currently trading around 1,180 levels. It made intraday high at 1,182 and low at 1,177 marks. Intraday bias remains bullish till the time pair holds key support at 1,172 levels. A daily close above 1,182 will …
It made intraday high at 1,182 and low at 1,177 marks.
Intraday bias remains bullish till the time pair holds key support at 1,172 levels.
A daily close above 1,182 will drag the parity higher towards key resistances at 1,196, 1,201, 1,209 (20D EMA) and 1,220 (March 03, 2016 high) marks respectively.
On the other side, a sustained close below 1,172 will test key supports at 1,152/1,146/1,132/1,127/1,117/1,111/1,101/1,089/1,078/1,063/1,044 levels respectively.
Seoul shares open up 0.07 pct at 1972.60.
South Korea November consumer sentiment index decreases to 95.8 vs previous 102.
We prefer to go long on USD/KRW only above 1,182, stop loss at 1,172 and target of 1,196.
